ARTICLE 13: DEFAULT AND REMEDIES 

  




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| 13.1 | An “Event of Default” shall be deemed to occur if:  |

  




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|   | (A) | Lessee either (1) fails to pay when due any monthly rental payment or any other sum scheduled to be payable to Lessor under this Lease, or (2) if the failure continues for
a period of five (5) days after Lessor has given Lessee notice of the failure;  |

  




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|   | (B) | Lessee fails to pay when due any unscheduled payment payable to Lessor under this Lease, and such failure continues for a period of five (5) days after Lessor has given Lessee
notice of the failure;  |

  




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|   | (C) | Lessee fails to perform or observe any material covenant, warranty, condition, obligation or agreement to be performed, honored or observed by it hereunder, if such failure
continues for a period of seven (7) days after Lessor has given Lessee notice of such failure;  |

  




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|   | (D) | any carrier of insurance cancels or reduces coverage under any policy of insurance required hereunder or determines that Lessee is an uninsurable risk at standard rates;
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